Traders: China’s local PVC market remains on a soft note
Data from ChemOrbis Price Index shows that both ethylene and acetylene based PVC prices in China started to post drops since mid-November after increasing significantly. The gap between the two products also started to widen again.
A trader reporting that the local PVC market in China is recently volatile commented, “Acetylene based PVC is following a stable to softening trend due to retreating futures prices. Furthermore, demand is weak and players are staying on the sidelines. In case of additional drops on futures prices which we think is very likely, then PVC prices might undergo a further correction. We think that the market will be quiet as of January 20 with players leaving their desks for holidays.”
Another trader stated that the PVC market in China is still on a softening trend amidst higher inventory levels and weak demand. “Environmental inspections have come to an end. Now local producers are gradually increasing their operating rates. Therefore, we expect PVC prices to remain on a bearish trend until after Chinese New Year since local prices previously increased too much.”
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